Strictly speaking, no binding resolutions...
economies overcome the crisis more than instituting control over the flow of capital."Hearkening back to the 1998 default, Kudrin noted that that financial crisis "dramatically illustrated that limiting the flow of capital is ineffective in times of crisis. A black market forms, and the outflow of capital continues."
Therefore, one can hardly expect Russia to place limits on its banks" activities, and the rigid parameters proposed by Barack Obama and European leaders will not be applied to Russian bankers. Nor will any sundry new taxes on financial and banking transactions be levied. And even though a system for determining bonuses for top management is being developed in order to stimulate the financial sector, bonuses will nonetheless be limited.
As the forum came to a close, delegates noted that the global economy has begun to recover and that the recession is ending, but that growth is still too anemic to allow for optimistic predictions. For government
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